Uflex closes Q2 of FY19-20 with 5% increase in EBITDA

Uflex, one of India'southward largest multinational flexible packaging companies and a global player in polymer sciences, declared its earnings for the quarter ended 30 September 2019, and its consolidated EBITDA (Earnings before involvement, revenue enhancement, depreciation, and amortization) for Q2 FY 19-xx stood at Rs. 278.8 crores, showing an increase of 5.4% YoY footing while its consolidated net profit barbarous marginally past i.8% YoY (yr on twelvemonth) to Rs. 94 crores.

The total production volume during the quarter was 94218 metric tons every bit compared to 102442 metric tons during September 2022 quarter and total sales volume for the quarter was 93951 metric tons equally compared to 101081 metric tons in September 2022 quarter. Lower production and sales book are attributed to the closure of i BOPET line in Dubai every bit it is beingness shifted to Russian federation. The company reported consolidated net revenues of Rs. 1875.3 crores for the second quarter of fiscal 2019-twenty, registering a drop of 7.two% on YoY basis.

Talking virtually the earnings for the company, Rajesh Bhatia, group master fiscal officer at Uflex said, "Q2 FY 2019-20 was a steady quarter and despite the closure of i BOPET line in Dubai, which is being shifted to Russia and volition be operational in Q4 FY 20, the EBITDA grew by v.4% and EBITDA margins improved from thirteen.1% to 14.ix% on YoY ground."

Clarifying on the bear on of single-use plastic phase-out by 2022, Bhatia said, "The current programme by the government of India on single-utilise plastic (SUP) in India volition non bear upon Uflex'southward business in any mode since we do not manufacture acquit bags and cutlery items which are included in SUPs. We manufacture multi-layer flexible packaging, which is all 100% recyclable and all the plants of Uflex already accept recycling facilities. The visitor is providing leadership to the industry and the industry association is proposing to set up a pilot establish, which will showcase how to segregate municipal waste and recycle plastic waste and volition surely address the negative perception around plastic, which is actually a boon material. Uflex's USA establish is already certified by SCS Global for its minimum 90% post-consumer recycled (PCR) content PET film and Uflex will gradually fix PCR facilities at some of its plants worldwide."

Ashok Chaturvedi, chairman and managing managing director, Uflex said, "Keeping in listen our commitment towards the planet and the changing needs of the consumer packaged goods industry towards sustainable packaging, equipping our clientele with a mix of recyclable and biodegradable products besides setting up of PCR facilities at our plants shall remain our large focus, this year. These efforts volition definitely help in reducing plastic waste in the environs and create a truly round plastics economy."

Key production launches by Uflex

Two versions of multi-lane make full and seal machines – Stick Pack 200P and Stick Pack 200L – were launched past the engineering business organization for packaging of granule content including carbohydrate, common salt, java creamer and liquid content such as mayonnaise, honey, sauces, and lycopersicon esculentum ketchup. Stick Pack 200P for packaging of powder and granules is equipped with a 5-track system leading to a higher production capacity of 175 to 225 packs per minute, whereas for Stick Pack 200L, the three tracks can hands produce anywhere between 75 to 90 packs per infinitesimal. The machines can pack a weight of 3 to 8 grams and can run various combinations of multi-layer packaging substrates like PET, PE, aluminum, and paper, depending on the packaging requirement. The new launch with additional benefits like like shooting fish in a barrel functioning of the car, low maintenance cost and reduced energy consumption, has already institute takers in India.

Solutions for textile and pharmaceutical industry

The Holography business of Uflex launched a series of innovations designed for its customers in the textile industry and pharmaceutical packaging. Uflex launched its variant of multicolor printed sequin for the textile industry. The indigenously built Multi-launder Stamping Foil by Uflex will also be exported and can withstand seven washes, without information technology existence damaged, one time the stamping is washed on textile.

With the foray of transparent holographic PVC into Bangladesh's pharmaceutical packaging market, Uflex has get the starting time and only visitor in the globe to develop a product that transfers holographic paradigm to 250 microreson PVC, not merely enhancing the aesthetic appeal of pharma packs, but also providing an anti-counterfeit solution.

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